Progyny, Inc. $PGNY Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its Progyny stake by 12.2% in the fourth quarter, though it still held 1.90 million shares worth about $48.7 million at the end of the period.
• Progyny reported better-than-expected quarterly results, posting EPS of $0.29 versus the $0.26 consensus and revenue of $328.5 million versus estimates of $326.47 million, even as revenue fell 26.4% year over year.
• Wall Street remains generally bullish on the stock, with analysts assigning a Moderate Buy rating and an average price target of $28.55; the shares recently traded at $23.25.

Thrivent Financial for Lutherans lessened its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,895,605 shares of the company's stock after selling 262,705 shares during the quarter. Thrivent Financial for Lutherans owned about 2.20% of Progyny worth $48,679,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. increased its stake in shares of Progyny by 147.3% during the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company's stock valued at $30,000 after acquiring an additional 819 shares during the period. Versant Capital Management Inc increased its stake in shares of Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company's stock valued at $50,000 after acquiring an additional 894 shares during the period. Covestor Ltd increased its stake in shares of Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company's stock valued at $56,000 after acquiring an additional 1,624 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Progyny during the second quarter valued at approximately $77,000. Finally, Quarry LP increased its stake in shares of Progyny by 2,004.1% during the third quarter. Quarry LP now owns 3,598 shares of the company's stock valued at $77,000 after acquiring an additional 3,427 shares during the period. Institutional investors and hedge funds own 94.93% of the company's stock.

Insider Transactions at Progyny

In other Progyny news, EVP Allison Swartz sold 4,657 shares of Progyny stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $17.40, for a total value of $81,031.80. Following the transaction, the executive vice president owned 89,879 shares in the company, valued at approximately $1,563,894.60. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 7,455 shares of company stock valued at $129,515 in the last quarter. Insiders own 9.90% of the company's stock.

Progyny Stock Performance

Progyny stock opened at $23.25 on Friday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. Progyny, Inc. has a 1 year low of $16.10 and a 1 year high of $28.75. The firm's 50 day moving average price is $18.38 and its two-hundred day moving average price is $21.83.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm's quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, equities analysts predict that Progyny, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays reiterated an "overweight" rating and set a $27.00 price objective on shares of Progyny in a research note on Friday. BTIG Research lowered their price objective on shares of Progyny from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Citizens Jmp raised their price objective on shares of Progyny from $30.00 to $31.00 and gave the company a "market outperform" rating in a research note on Monday, May 11th. KeyCorp lowered their price objective on shares of Progyny from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Progyny in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $28.55.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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